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Chapter nine is devoted to an aspect of trade policy particularly suited for the 1990s: Is it rational for countries such as Japan to erect hidden barriers to trade, and if so, are "results-oriented trade policies" such as voluntary import expansions welfare enhancing?

No sooner did the profession come to understand the economics of trade-restricting devices, such as tariffs, quotas and voluntary export restraints (VERs) (the discirminatory nature of VERs has been recently noted and analyzed in Dinopoulos and Kreinin [1988; 1989]), then a new policy instrument was introduced, christened by Bhagwati [1987] as Voluntary Import Expansion (VIE).